Double-tax draft law with Malaysia and South Korea shows progress
This article discusses the benefits of Cambodia's double taxation agreements with Malaysia and South Korea. ... - Continue reading
Category: Avoidance Convention
DoF expects double-taxation deal with Cambodia soon
A possible double tax treaty is to be expected between the Philippines and Cambodia. ... - Continue reading
Minister’s proposal of corporate tax reforms causes strong reaction from Cyprus business community
NICOSIA, Aug. 7 (Xinhua) — Cypriot Finance Minister Harris Georgiades’ proposal of a major reform of corporate taxation has triggered strong objections from entrepreneurs, who fear that it would lead to an increase of their total tax burden. Georgiades said on Wednesday that his proposal, which included taxation on offshore… – Continue reading
Dhaka, Male agree to sign double taxation avoidance deal
Bangladesh and the Maldives agreed to sign double taxation avoidance agreement (DTAA) to boost bilateral trade. To this end, both the countries on Wednesday held the second round of negotiation in Dhaka at the BCS (Tax) Academy and signed an agreed minutes for the DTAA, said a National Board of… – Continue reading
List of Countries That Have a DTAA with India
India has one of the largest networks of tax treaties for the avoidance of double taxation and prevention of tax evasion. The country has Double Tax Avoidance Agreements (DTAAs) with over 85 countries under Section 90 of the Income Tax Act, 1961. The purpose of such tax treaties is to… – Continue reading
Foreign income declaration mandatory
KARACHI: The income tax law has made it mandatory for taxpayers to declare foreign income and assets in order to avoid penalty, Vishno Raja Qavi, former chief tax policy, Federal Board of Revenue (FBR), said on Thursday. He was highlighting the key points of Automatic Exchange of Information (AEOI) at… – Continue reading
Avoidance of double taxation treaty between India, HKSAR comes into effect
A double taxation avoidance agreement between India and Hong Kong has come into effect from Friday, which officials say would stimulate more the two-way flow of investments and help curb fiscal evasion with respect to taxes on income. The agreement between India and the Hong Kong Special Administrative Region (HKSAR)… – Continue reading
India, US strike 1st bilateral advance pricing agreement: Government
NEW DELHI: India and the US have reached a deal for the first bilateral advance pricing agreement, a move that will enable American firms to ascertain tax liabilities beforehand, Finance Minister Arun Jaitley said today. The two nations have resolved over 100 cases of tax disputes involving a tax of… – Continue reading
Action Against Tax Evasion/Black Money Is An Ongoing Process: Minister
Minister of State (Finance) Santosh Kumar Gangwar on Tuesday said action against tax evasion/black money, including in respect of black money stashed away abroad, is an ongoing process and such action under direct tax laws includes searches, surveys, enquiries, assessment of income, levy of penalties and filing of prosecution complaints… – Continue reading
India-Korea DTAA notified, capital gains to be taxed at source
India has notified the revised double tax avoidance agreement with South Korea under which capital gains tax will be levied at the source with effect from April 1, 2017. The existing Double Taxation Avoidance Convention, which has been in vogue for three decades, provides for residence-based taxation of capital gains… – Continue reading
Mauritius seeks India’s help, post tax treaty revision
Mauritius, the island nation that accounts for the second-largest FDI, has sought a line of credit and more investments from India as it gets ready for implementation of the revised tax treaty from April 2017. Mauritian Minister of Finance and Economic Development Pravind Kumar Jugnauth yesterday met Finance Minister Arun Jaitley… – Continue reading
Mauritius to revive negotiations for CECPA with India
Mauritius is looking to revive efforts to put in place a comprehensive economic cooperation pact with India, close on the heels of sorting out long-pending issues related to the bilateral tax treaty. The island nation, a major source of foreign direct investments coming into India, is also eyeing a preferential… – Continue reading
India, Slovenia ink double-tax avoidance treaty amendments
In its fight against black money stashed abroad, India has signed a protocol with European Union member nation Slovenia to make changes to the Double Taxation Avoidance Convention between the two countries, an official statement said in New Delhi on Thursday. The protocol, for avoidance of double taxation and preventing… – Continue reading
India gearing up to apply Mauritius tax treaty fix to double taxation avoidance accord with Cyprus
NEW DELHI: Now that loopholes in the tax treaty with Mauritius have been plugged, the Indian government is gearing up to apply the same fix to its accord with Cyprus. Talks to amend the double taxation avoidance treaty are at an advanced stage and the two sides will soon exchange… – Continue reading
U.S. tax authorities approve signing of bilateral APAs with India
The U.S. Internal Revenue Service on Tuesday announced that, starting February 16, its Advance Pricing and Mutual Agreement office will begin accepting requests for bilateral advance pricing agreements between the U.S. and India. This marks a big step forward to ensure tax certainty between the two countries, according to experts…. – Continue reading
